Business Loans for Petroleum and Petroleum Products Wholesalers

Looking for business loans for petroleum and petroleum products wholesalers? An SBA loan may be just what you've been looking for. This $532,900 petroleum and petroleum products wholesalers loan was issued by an Alabama bank.

Getting a small business loan in Dora, Alabama was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Colonial Bank, operating out of Birmingham, Alabama. Here are the details on this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS
DORA, AL 35062

SBA Loan Lender

COLONIAL BANK
1928 1ST AVE NORTH
BIRMINGHAM, AL 35203

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5172 - Petroleum and Petroleum Products

NAICS Code

422720 - Petroleum and Petroleum Products Wholesalers

Loan Approval Date

9/5/2000

Loan Approval Gross Amount

$532,900

Loan Approval from the SBA

Of the total $532,900 loan amount, the SBA guaranteed $399,675.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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